CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.5% during the third quarter, HoldingsChannel.com reports. The fund owned 30,265 shares of the real estate investment trust’s stock after selling 6,890 shares during the period. Valicenti Advisory Services Inc.’s holdings in CareTrust REIT were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new position in CareTrust REIT during the second quarter worth about $27,000. Rothschild Investment LLC purchased a new position in CareTrust REIT during the second quarter worth about $34,000. Blue Trust Inc. raised its stake in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the period. Quest Partners LLC purchased a new position in CareTrust REIT during the second quarter worth about $40,000. Finally, GAMMA Investing LLC raised its stake in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $30.94 on Friday. The company’s 50 day simple moving average is $30.18 and its 200-day simple moving average is $27.12. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 59.50 and a beta of 1.10. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $31.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The business had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 223.08%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. BMO Capital Markets lifted their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the transaction, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.75% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.